Yes. On October 18, 2023, OFAC issued amended General Licenses (GLs) 3I and 9H, to remove the restriction that any divestment by U.S. persons of holdings in GL 3I Bonds (as defined in GL 3I and FAQ 662) or PdVSA Securities (as defined in GL 9H and FAQ 661) must be to non-U.S. persons.
GL 3I replaces and supersedes in its entirety GL 3H, which did not authorize U.S. persons to purchase or invest in, or to facilitate the purchase of or investment in, directly or indirectly, the bonds specified in the Annex to GL 3H, with certain exceptions. Under GL 3I, U.S. persons are no longer subject to the restriction that any divestment of holdings in GL 3I Bonds must be to non-U.S. persons. For more information on GL 3I, please see FAQ 662.
GL 9H replaces and supersedes in its entirety GL 9G, which did not authorize U.S. persons to purchase or invest in, or to facilitate the purchase of or investment in, directly or indirectly, PdVSA Securities, with certain exceptions. Under GL 9H, U.S. persons are no longer subject to the restriction that any divestment of holdings in PdVSA Securities must be to non-U.S. persons.
All sanctions related to the primary bond market remain in place.
For more information on GL 9H, please see FAQ 661.